Petroceltic finds Kurdistan, Egypt wells ‘disappointing’ | Petroceltic finds Kurdistan, Egypt wells ‘disappointing’ -

Petroceltic finds Kurdistan, Egypt wells ‘disappointing’

: Saturday, May 31 - 2014 @ 00:56

UK-based independent oil and gas explorer, Petroceltic has that some of its latest drilling work in Iraqi Kurdistan, Egypt and Romania failed to produce significant volumes of oil or gas, Reuters has reported. “The outcome of these exploration wells is disappointing but does provide a significant amount of information that will greatly help decision making around future activity on these licences,” said chief executive of Petroceltic, Brian O’Cathain. Petroceltic said it would now focus on exploring the Shireen-1 well in Iraqi Kurdistan, where drilling is set to start in June and expected to last 150 days.

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Saturday, May 31- 2014 @ 0:56 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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